State pension set to pass £13k

The full state pension will increase to £251.20 weekly from April 2027, exceeding the £12,570 income tax threshold. This rise, driven by the triple lock guarantee, means many pensioners will face income tax deductions. Former Pensions Minister Steve Webb said: "Unless things change sharply in the next month, those on the new state pension can expect to see an increase of around £500 per year next April." The Government plans to exempt those solely reliant on the state pension from tax, but details remain unclear.